Quantenna Communications Inc (QTNA) Given Average Recommendation of “Hold” by Brokerages

Shares of Quantenna Communications Inc (NASDAQ:QTNA) have been given an average rating of “Hold” by the fourteen analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $22.62.

Several research analysts have commented on the stock. Northland Securities downgraded shares of Quantenna Communications to a “market perform” rating in a report on Friday, May 10th. Zacks Investment Research downgraded shares of Quantenna Communications from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. BidaskClub downgraded shares of Quantenna Communications from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 30th. William Blair downgraded shares of Quantenna Communications from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 30th. Finally, Roth Capital reaffirmed a “neutral” rating and issued a $25.00 price target (up previously from $21.00) on shares of Quantenna Communications in a report on Thursday, March 28th.

Quantenna Communications stock traded down $0.05 during mid-day trading on Thursday, hitting $24.04. The stock had a trading volume of 44,528 shares, compared to its average volume of 960,262. The company has a market capitalization of $926.69 million, a P/E ratio of 300.50, a P/E/G ratio of 3.08 and a beta of 1.02. Quantenna Communications has a one year low of $13.03 and a one year high of $24.48.

Quantenna Communications (NASDAQ:QTNA) last released its quarterly earnings data on Monday, April 29th. The technology company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01. Quantenna Communications had a net margin of 2.24% and a return on equity of 6.86%. The business had revenue of $57.68 million during the quarter, compared to the consensus estimate of $57.49 million. During the same quarter in the prior year, the firm earned $0.03 EPS. The business’s revenue was up 27.8% on a year-over-year basis. As a group, analysts anticipate that Quantenna Communications will post 0.39 earnings per share for the current fiscal year.

In related news, CEO Sam Heidari sold 2,147 shares of the stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $17.93, for a total value of $38,495.71. Following the completion of the transaction, the chief executive officer now owns 325,478 shares of the company’s stock, valued at approximately $5,835,820.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 52,147 shares of company stock valued at $1,064,746. 13.49% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of the stock. ARP Americas LP purchased a new position in shares of Quantenna Communications during the first quarter worth approximately $31,022,000. Water Island Capital LLC purchased a new position in shares of Quantenna Communications during the first quarter worth approximately $26,228,000. FMR LLC increased its position in shares of Quantenna Communications by 240.2% during the first quarter. FMR LLC now owns 1,172,465 shares of the technology company’s stock worth $28,526,000 after acquiring an additional 827,855 shares during the period. Alpine Associates Management Inc. purchased a new position in shares of Quantenna Communications during the first quarter worth approximately $17,729,000. Finally, JPMorgan Chase & Co. increased its position in shares of Quantenna Communications by 31.1% during the third quarter. JPMorgan Chase & Co. now owns 2,230,121 shares of the technology company’s stock worth $41,146,000 after acquiring an additional 529,520 shares during the period. 71.06% of the stock is currently owned by institutional investors.

Quantenna Communications Company Profile

Quantenna Communications, Inc designs, develops, and markets wireless communication solutions enabling wireless local area networking in the Asia-Pacific, Europe, the Middle East, Africa, and the Americas. Its solutions portfolio comprises radio frequency chips and digital baseband chips, which support the IEEE Wi-Fi standards, including 802.11n, 802.11ac, and the draft Wi-Fi 6 standard.

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Analyst Recommendations for Quantenna Communications (NASDAQ:QTNA)

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